Litentry (LIT) is a token of a decentralized protocol for the aggregation of identification data in several networks and consists of a mechanism for indexing decentralized data (DID) and a computer network for lending Substrat. The token in the network performs the functions of supporting the network, rewarding for the placement of identification data, for management.

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🔥 Litentry Burn Event #2 🔥

We are excited to announce the second token burn event on governance! Based on the Litentry Identity Staking Inflation Model Discussion, the team will now burn 377,800 LIT quarterly for the next two years.

To ensure transparency, here is the Parachain account where the tokens will be burnt: 48W1VwWpMk9ZpA7HMRA15wyWygyGaLbA5VoJeczh67g7tdn9 🕳

🗳 The referendum: https://litentry.subsquare.io/democracy/referendum/3

This is the second burn event out of a total of eight. Stay tuned for more updates, and let's make this governance decision together!

🗳 #Litentry #Governance #TokenBurn

Litentry Burn Event #2. We are excited to announce the second token burn event on governance.